Short Sale Assistance for Military Families


Fannie Mae and Freddie Mac are stepping up and helping out Military Families that receive a Permanent Change of Station (PCS).  When Military personal receive a PCS they are required to move and thus may get caught having to short sell or come to closing with cash to move out of their current home. Fortunately for these families, Freddie and Fannie have agreed to allow short sales on the homes where they own the notes.

Under this policy if a Military family purchased any property before June 30, 2012 and receive a PCS order, then neither Freddie or Fannie will pursue a deficiency judgment, or any cash contribution or promissory notes. No need to add to the stress level of a Military family, and this is the right steps for Fannie and Freddie.

For more details on this story – you can click here:  Short Sale Assistance for Military Families.

Economists expect 2013 home price rebound


Inman new recently released a survey conducted by Pulsenomics LLC on behalf of Zillow showing expected home pricing growth. This group of 114 participants expect to see a growth or increase in the average home value for U.S. single family homes. We’ll see if this comes to fruition or not.

For the full story – check out the original post by Inman News here: Economists expect 2013 home price rebound | Inman News.

Experts Say Housing Prices Are About to Turn

My friends at Keeping Current Matters have released another interesting set of information. This time a quarterly report from Pulsenomics who survey a distinguished panel of over 100 economists, investment strategists, and housing market analysts regarding their 5-year expectations for future home prices in the United States.Here are the results of their latest survey:

Price appreciation/depreciation expected over the next five years:

2012:   -.4%

2013:   +1.3%

2014:   +2.6%

2015:   +3.2%

2016:   +3.5%

The average pre-bubble (1987-1999) annual appreciation was 3.6%


Judicial and Non-Judicial States





If you have wondered why the Foreclosure process takes longer in some states vs. Others – check out the map above. States that have a “Judicial” foreclosure system means that all of their foreclosures must be handled through the court system – thus extending the length of time it takes for a foreclosure to occur.

This may help the homeowner stay in their property longer. However it very well may also keep the property from being able to be re-sold quicker as well – adding to blight and the “shadow inventory” of distressed properties.


Green Mortgages




There are many mortgage products on the market these days, but which one is right for you? Obviously there are a lot of factors which play into that decision. However there is one product that has been on the market for a few years that many don’t talk about, or even know exists: The Energy Efficient Mortgage (EEM). This is an “add on” product meaning that you would have this in addition to your FHA or 203K or VA loan. You can even get this as a re-finance.

As you may have guessed, this loan is specifically set up to help you convert your home into a more efficient or “Green” residence. This loan will allow you to borrow up to 5% of your home price (capped at $8K for FHA and $6K for VA Loans). Additionally, the additional debt you incur from this loan is not included in your qualify ratios as well.

For specific details about the EEM, and if it may be right for you, talk to your mortgage broker.

Home Prices: It’s About Supply

I’ve always believed that Real Estate was the ultimate Supply and Demand economic index. It appears we are starting to see this again depending on where you live. The Spring season has been strong throughout most of the USA. Though certain areas have begun to see multiple offers again, it does not necessarily mean that prices are starting to increase greatly. There still is a good amount of shadow inventory (distressed properties that banks are slowly getting selling) in many states.

Keeping Current Matters has just released an interesting quick read on this very subject. Check out the full article here:  Home Prices: It’s About Supply. There are also some good links to other information (such as State by State shadow inventory). One (I should say two) things I found interesting:

  • Demand has strengthened, showing a 10% national increase over the same month last year.
  • The supply of homes for sale is down 20% from the same time last year.

Some good food for thought as you head out looking to buy this season.

Another Positive Housing Report!

NAR has put together an interesting report again showing the “Perfect Storm” the Real Estate market has entered. This is good news all around – if you have been wanting to sell – there are buyers out in the market looking to buy. If you have been wanting to purchase, interest rates are even lower, and the sellers are motivated to move on.


Where Are House Prices Actually Headed?

One of the most popular questions being asked of Realtors currently is “When will home prices begin to increase?”  Though real estate remains one of the most localized industries recently three national index have announced they believe home prices will begin to appreciate in the next few years. Think of their answer as more tortoise than hare, but remember who won the race!

The three separate reports that have been published in the last 60 days: the Home Price Expectations Survey (HPES), the Urban Land Institute Real Estate Consensus Forecast (ULI) and the Demand Institute’s Report (DIR): The Shifting Nature of U.S. Housing Demand. 

Mortgage Forgiveness Debt Relief Act: Will It Be Extended?

I’ve been asked recently my thoughts as to if I think the Mortgage Forgiveness Debt Relief Act will be extended. In our current economical environment, I feel as if this is a no brainer – but I’m not the government.

Many homes that are being sold today are in some form of distress. Essentially, the home owner is selling via a short sell or they have a mortgage that has given them some relief. This act makes the relief the homeowner receives  not taxable.

For more info on this subject, check out Keeping Current Matter’s take: Mortgage Forgiveness Debt Relief Act: Will It Be Extended?.

Short Sale vs Foreclosure – 10 Common Myths Busted


Are you upside down on your home’s mortgage? Do you feel as if a Short Sale or letting your house fall into Foreclosure is your best option?  If  you are looking at one of these options, it is best to learn as much as possible about both of these paths. My friends at Keeping Current Matters have a great blog post about the myths of Short Sales and Foreclosures. Check out this link for the full article here for more details —>Short Sale vs Foreclosure – 10 Common Myths Busted.